The Used-Car Factory Shut Down
In new content posted this morning, Brian Finkelmeyer, Cox Automotive senior director of New Car Solutions, takes a look at how recent history is now reshaping our near-term future. Indeed, puny new-vehicle sales over the past few years are already resulting in low used-vehicle inventory, as everything new is eventually used. As Brian notes, reflecting on production disruptions and slow sales during and after the pandemic, “We didn’t fully appreciate what was happening at that moment, but the industry was experiencing a used-car factory shutdown.”
Read the report: Why Are Prices So High? The Used-Car Factory Was Shut Down.
Q1 Financial Results
The Cox Automotive Industry Insights team continues to zero in on the topline sales results that underpin the recent financial announcements from the industry’s biggest players. Reports on U.S. sales, share, inventory, prices and incentive spending have been posted in the Newsroom for General Motors, Hyundai, Ford and Stellantis.
If you are keeping track, look for updates on Honda, Nissan, and Toyota next week as all three report their quarterly results.
Happy Fed Day, to all who celebrate!